The latest report published by IMARC Group, titled “Third-Party Logistics (3PL) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on Third-Party Logistics (3PL) Market Report. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global third-party logistics (3PL) market is expected to exhibit a growth rate (CAGR) of 8.2% during 2023-2028.
Third-party logistics (3PL) represents outsourced logistics services that enable manufacturers to recruit third-party organizations to outsource activities related to supply chain management, such as distribution and logistics. They are of several types, including dedicated contract carriage, domestic transportation management, international transportation management, value-added logistics services, warehousing, distribution, etc. 3PL systems assist in transporting, door-to-door delivery, cross-docking, order fulfilling, picking, packing, freight forwarding, and inventory forecasting at reduced costs. They help enterprises to provide an enhanced customer experience, ensure scalability, mitigate the risks of product damage, promote business growth and market expansion, and enable the completion of core business operations. As a result, 3PL solutions find extensive applications across various sectors, such as manufacturing, retail, healthcare, automotive, hospitality, construction, food and beverage (F&B), etc.
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Market Trends:
The growing demand for outsourcing major transportation and logistics services to decrease shipping costs and manage delivery time is primarily driving the third-party logistics (3PL) market. In addition to this, the introduction of advanced technologies, which include supply chain management (SCM), transportation management systems (TMS), enterprise resource planning (ERP), international trade logistics systems (ITLS), etc., designed for mitigating energy consumption and optimizing operational efficiencies is also positively influencing the global market. Moreover, the increasing integration of radio-frequency identification (RFID) chips for enabling consumers and manufacturers to track orders, product locations, and freight shipments with the support of numerous electronic gadgets is acting as another significant growth-inducing factor. Apart from this, the rising need for the services across e-commerce and online platforms for inventory management and to perform the delivery of products within the stipulated time is expected to propel the third-party logistics (3PL) market over the forecasted period.
One of the key factors driving the growth of the 3PL market is globalization. With businesses expanding their operations across borders, the need for efficient logistics services has become more important than ever. 3PL providers have the expertise and infrastructure to manage complex supply chains across different geographies, which makes them an indispensable partner for businesses looking to expand their global footprint.
In conclusion, the 3PL market is a rapidly growing industry that is critical to the success of businesses around the world. While the market faces several challenges, including the need to offer customized solutions and adopt sustainable practices, it also presents significant opportunities for providers who are able to innovate and adapt to the changing needs of their clients. As businesses continue to expand their operations and adopt e-commerce, the demand for efficient and cost-effective logistics services is only going to increase, making the 3PL market a key player in the global economy.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- H. Robinson
- CMA CGM
- DB Schenker
- DHL (The Deutsche Post AG)
- DSV A/S
- Expeditors International of Washington Inc
- FedEx Corporation
- Hitachi Transport System Ltd.
- B. Hunt Transport Services Inc
- Kuehne + Nagel International AG (Kuehne Holding AG)
- Nippon Express Co. Ltd.
- Sinotrans United Parcel Service
Third-Party Logistics (3PL) Market Segmentation:
Our report has categorized the market based on region, transport, service type and end use.
Breakup by Transport:
- Railways
- Roadways
- Waterways
- Airways
Breakup by Service Type:
- Dedicated Contract Carriage
- Domestic Transportation Management
- International Transportation Management
- Warehousing and Distribution
- Value Added Logistics Services
Breakup by End Use:
- Manufacturing
- Retail
- Healthcare
- Automotive
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.
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